Symbotic Inc. (NASDAQ:SYM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have earned an average rating of “Hold” from the seventeen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $38.20.

SYM has been the topic of a number of research analyst reports. The Goldman Sachs Group dropped their price target on Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Northland Securities boosted their price objective on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. UBS Group reduced their price target on Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. BWS Financial reaffirmed a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Wednesday. Finally, Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th.

Insider Activity at Symbotic

In other news, insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total transaction of $73,416.00. Following the sale, the insider now owns 40,812 shares of the company’s stock, valued at approximately $1,126,411.20. The trade was a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 3,635 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $33.28, for a total value of $120,972.80. Following the sale, the insider now directly owns 24,272 shares in the company, valued at approximately $807,772.16. The trade was a 13.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 71,117 shares of company stock valued at $1,985,334. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC increased its holdings in Symbotic by 19,307.7% in the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after buying an additional 2,510 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Symbotic by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock valued at $5,343,000 after acquiring an additional 20,469 shares during the last quarter. Verition Fund Management LLC raised its stake in Symbotic by 33.8% during the 3rd quarter. Verition Fund Management LLC now owns 33,129 shares of the company’s stock worth $808,000 after buying an additional 8,362 shares during the period. Arete Wealth Advisors LLC bought a new position in Symbotic in the third quarter valued at approximately $311,000. Finally, Holocene Advisors LP bought a new stake in shares of Symbotic in the third quarter valued at about $1,201,000.

Symbotic Price Performance

Shares of Symbotic stock opened at $17.50 on Monday. The firm’s 50-day moving average is $24.28 and its 200 day moving average is $26.61. Symbotic has a 1 year low of $16.32 and a 1 year high of $48.98. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of -249.96, a PEG ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. On average, equities analysts expect that Symbotic will post 0.13 EPS for the current fiscal year.

Symbotic Company Profile

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.